PulteGroup, Inc. (NYSE:PHM) Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC reduced its stake in PulteGroup by 8.8% during the first quarter, owning 356,020 shares worth approximately $36.60 million by the end of the reporting period.
• Several hedge funds made significant adjustments to their holdings in PulteGroup, with notable increases including a 1,311.3% rise from Vest Financial LLC, now owning 312,723 shares.
• PulteGroup recently reported a quarterly EPS of $3.03, surpassing analysts' expectations of $2.92, despite a 4.3% decline in revenue year-over-year.

LPL Financial LLC trimmed its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,020 shares of the construction company's stock after selling 34,559 shares during the quarter. LPL Financial LLC owned 0.18% of PulteGroup worth $36,599,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Inspire Advisors LLC raised its position in PulteGroup by 5.7% in the 1st quarter. Inspire Advisors LLC now owns 9,566 shares of the construction company's stock valued at $983,000 after buying an additional 515 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PulteGroup by 26.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 433,815 shares of the construction company's stock worth $44,596,000 after buying an additional 89,976 shares during the last quarter. Empirical Finance LLC increased its stake in shares of PulteGroup by 3.1% in the first quarter. Empirical Finance LLC now owns 7,956 shares of the construction company's stock valued at $818,000 after buying an additional 237 shares during the period. Allium Financial Advisors LLC acquired a new stake in PulteGroup during the first quarter worth approximately $430,000. Finally, HB Wealth Management LLC boosted its holdings in PulteGroup by 42.6% in the first quarter. HB Wealth Management LLC now owns 4,381 shares of the construction company's stock worth $450,000 after acquiring an additional 1,308 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PHM. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Evercore ISI boosted their price target on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price target on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $134.15.

PulteGroup Stock Performance

NYSE:PHM traded up $3.83 during mid-day trading on Friday, reaching $116.75. The stock had a trading volume of 2,028,856 shares, compared to its average volume of 2,366,963. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.34 and a beta of 1.22. The business has a 50 day simple moving average of $106.92 and a 200 day simple moving average of $105.21.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company's revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $3.83 EPS. On average, analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.